"Digital dollars" have existed on balance sheets for years (although I think technically they are supposed to be backed by a physical representation)... What makes the current push for "digital dollars" and entities like Visa patenting the concept of concern to so many? I know what my concerns are, but I'd love to get community feedback...
My 2 cents about the push for digital dollars is that the current crisis has taught us how our paper money is a source of confusion and strain because it is analog. Take for example the recent stimulus money and how difficult it was to reach people on time not to mention some money that went to deceased people; here we have a pretty balkanized and inefficient system. The digital currency would be a better way of delivering money, but it will require a new architecture.
My 2 cents about the push for digital dollars is that the current crisis has taught us how our paper money is a source of confusion and strain because it is analog. Take for example the recent stimulus money and how difficult it was to reach people on time not to mention some money that went to deceased people; here we have a pretty balkanized and inefficient system. The digital currency would be a better way of delivering money, but it will require a new architecture.